The Global Mirror Coatings Market to Amount to $777.53 Million by 2028

A recent study by Triton Market Research titled 'Global Mirrror Coatings Market,' covers the Global Analysis and Forecasts by Resin Type (Acrylic; Epoxy; Polyurethane; Others), by Technology (Nanocoatings; Water-based; Solvent-based), by Substrate (Aluminum; Silver; Other Substrates), by Industry Vertical (Energy; Automotive and Transportation; Building and Construction; Other Industry Verticals), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

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The report by Triton estimates the global mirror coatings market to exhibit a CAGR of 6.87% in the forecast period 2021-2028. This industry is likely to accumulate a revenue of $777.53 million by 2028.

The rising initiatives by the government for renewable energy and solar & wind industries present immense potential for new investments in the years to come. These growing investments in the end-use industries are promoting the industrial output, and are fueling the demand for anti-corrosion coatings in several applications. This is expected to benefit the market for mirror coatings.

On the other hand, the demand for solvent-borne anti-corrosion coating is declining, in response to the rigid government regulations and environment protection policies. The Environmental Protection Agency (EPA) of the United States has imposed bans and introduced a number of regulatory norms regarding the usage of several solvent-borne coatings, VOCs, high toxic solvents, and HAPs like chromium and led-based heavy metals. These regulations are expected to grow in the forthcoming years, and thereby affect the anti-corrosion coatings. This will, in turn, hamper the growth of the global mirror coatings market over the forecasting period.

The market for mirror coatings is segmented into resin type, technology, substrate, and industry vertical. Based on resin type, it is divided into acrylic; epoxy; polyurethane; and others. Whereas, based on technology, it is categorized into nanocoatings; water-based; and solvent-based. On the basis of substrate, the market is further divided into aluminum; silver; and other substrates. And lastly, according to industry vertical, it is classified into energy; automotive and transportation; building and construction; and other industry verticals.

The Asia-Pacific is the largest market for mirror coatings in the world, holding the highest share. It is expected to continue its leading position in the projected phase. The increase in population and economic growth in the APAC countries are fueling the development of the construction industry.

Also, the rise in the purchasing power of consumers and the rapid advancement in technology in India, China, and Japan are increasing the demand for solar and wind renewable energy. Thus, both the above-stated factors are expected to enhance the demand for mirror coatings in the region. This will drive the growth of the studied market during the forecast period.

Casix, Mader, JML Optical, Fenzi SpA, General Optics (Asia Limited), Evaporated Coatings Inc, Zeiss International, Abrisa Technologies, Berliner Glas, Dynasil Corporation, Edmund Optics Inc, Guardian Glass, Ophir Optronics Solutions Ltd, Accucoat Inc, and Fosta-Tek Optics are the well-known players in the mirror coatings market.

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Question & Answer: Mirror Coatings Market

Question 1: What factor is expected to benefit the mirror coatings market?
Answer: The rising initiatives by the government for renewable energy and solar & wind industries present immense potential for new investments in the years to come. These growing investments in the end-use industries are promoting the industrial output, and are fueling the demand for anti-corrosion coatings in several applications. This is expected to benefit the market for mirror coatings.

Question 2: What factors are expected to hamper the growth of the global mirror coatings market over the forecasting period?
Answer: The demand for solvent-borne anti-corrosion coating is declining, in response to the rigid government regulations and environment protection policies. The Environmental Protection Agency (EPA) of the United States has imposed bans and introduced a number of regulatory norms regarding the usage of several solvent-borne coatings, VOCs, high toxic solvents, and HAPs like chromium and led-based heavy metals. These regulations are expected to grow in the forthcoming years, and thereby affect the anti-corrosion coatings. This will, in turn, hamper the growth of the global mirror coatings market over the forecasting period.

Question 3: Which region is expected to dominate the global mirror coatings market?
Answer: The Asia-Pacific is the largest market for mirror coatings in the world, holding the highest share. It is expected to continue its leading position in the projected phase. The increase in population and economic growth in the APAC countries are fueling the development of the construction industry. Also, rise in the purchasing power of consumers and the rapid advancement in technology in India, China, and Japan are increasing the demand for solar and wind renewable energy. Thus, both the above-stated factors are expected to enhance the demand for mirror coatings in the region. This will drive the growth of the studied market during the forecast period.

Question 4: Who are the well-known players in the mirror coatings market?
Answer: Casix, Mader, JML Optical, Fenzi SpA, General Optics (Asia Limited), Evaporated Coatings Inc, Zeiss International, Abrisa Technologies, Berliner Glas, Dynasil Corporation, Edmund Optics Inc, Guardian Glass, Ophir Optronics Solutions Ltd, Accucoat Inc, and Fosta-Tek Optics are the well-known players in the mirror coatings market.

Related Report:
Global Paints & Coatings Market - https://www.tritonmarketresearch.com/reports/paints-and-coatings-market

The global paints & coatings market is set to showcase growth in revenue in the forecasting period from 2019 to 2027. It will generate $229.71 million by 2027, while charting a CAGR of 5.34%. In this period, it will also showcase a growth in volume, growing at a CAGR of 4.30% and amounting to 70970.22 kilotons by 2027.

Paints & coatings are majorly used by automobile manufacturers for automobile production and refinish, as well as at service centers and automobile body shops. They are largely applied onto spare parts of the vehicles, and other interior & exterior parts.

With the improvement in people's incomes and standard of living, their purchasing power of middle-class consumers has increased. This, in turn, has raised the demand for automobiles in developing economies. Also, low interest rates for the purchase of vehicles and the growing population of first-time buyers are expected to fuel the demand for vehicles further. These factors are resulting in rapid growth in the automotive industry. This growth is expected to propel the demand for paints & coatings, and, consequently, boost the growth of the global paints & coatings market.

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